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Title:

Business Competition

Description:

Business Competition Customers Pricing Strategies Non Pricing Strategies Who are the customers? Market segments: Age Gender Income Group Geographical area Interest ... – PowerPoint PPT presentation

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Date added: 17 May 2018
Slides: 5
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Title: Business Competition


1
Business Competition
Customers
Pricing Strategies
Non Pricing Strategies
2
Who are the customers?
  • Market segments
  • Age
  • Gender
  • Income Group
  • Geographical area
  • Interest groups
  • Behaviour (impulse shoppers)

3
Pricing Strategies
  • Promotional Pricing temporary price change i.e.
    10 off
  • Loss leaders price is set lower than costs in
    the hope that customers also buy full price items
    i.e. supermarkets
  • Penetration Pricing low introductory price but
    price goes up one product is established i.e.
    interest magazines
  • Skimming high price to start, especially if
    there is little competition i.e. new technology
  • Destroyer low price to drive out the
    competition i.e. petrol

4
Non Pricing Strategies
  • Opening hours
  • Product range
  • Extra faculties, i.e. toilets, bag packing
  • Promotions I.e. BOGOF
  • Free gifts/competitions
  • Reward schemes
  • Wrapping services
  • Quality issues
  • Product availability
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